As the events of the last few years in the real estate industry show, people forget about the tremendous financial responsibility of purchasing a home at their peril. Here are a few tips for dealing
Mount Laurel Township Property Revaluation Program
This Township-wide Revaluation is not optional. It is required by State Law. The Division of Taxation mandates the procedures and the methods utilized by the Revaluation Firm. The purpose of this revaluation is to ensure a fair and equitable redistribution of Mount Laurel Township’s tax levy so all property owners are paying their fair share of the Township, County and School tax burden.
This is the first property revaluation since 1985 and the first property reassessment since 1995. This is being done for several reasons. The New Jersey Constitution requires that all real property be assessed according to the same standard of value. According to state law, every property’s fair share is based on its market value as of October 1, the pretax year.
Whenever this type of event occurs, everyone has a lot of questions. I have attached a link below that leads to Mount Laurel Property Revaluation – An Overview and Frequently Asked Questions (FAQs). This is the source of the information in this post and should answer most of the questions you may have about your property Revaluation.
Try to relax, according to these FAQs, this does not definitely mean that your taxes are going to increase.
Looking to buy or sell in Moorestown, Mount Laurel or Marlton? Give me a call at 856.297.6827
Sam Lepore is a Realtor with Keller Williams in Moorestown, NJ. Call him today at 856.297.6827 ....